Self Credit Repair

You’ve been denied of the home mortgage loan you applied for. You’ve maxed out your credit cards. You get phone calls from collection agencies and they are harassing you. You’re desperate and you want help, now. Look at the mirror and you’ll see the most affordable and sincere help you’ll ever get.

Yes, a self credit repair is most recommended when it comes to managing one’s money and debts. If you have the eye for details and the patience to investigate and do research, then you are on to a great start. Here’s how to go about it:

Get your free copy of your credit report.

Every time you use your credit, creditors or lenders report and file this in your credit report and submit to credit bureaus. These bureaus collect these records and sell them to institutions, which are permitted by the government.

All three credit bureaus, Experian, Equifax, and TransUnion are required to give every citizen a free copy of the credit report every twelve months. Ordering or requesting for your copy can be done through the bureau’s central website, tool-free numbers and mailing address. You can order your records from each of the credit bureaus at the same time or you can get a report one at a time.

Mind all details in your credit report.

In making a self credit repair, check all the data in your record. According to some surveys half of all consumers have errors on their credit reports, a percentage of these people with errors has experienced huge impacts on their credit. Double-check all personal information for typographical errors.

Next, check if there are any accounts that are questionable. These could be accounts that you are not familiar with or have not applied for. You may have been a victim of fraud or identity theft already and that could be serious. This is one reason why it is important to do a self credit repair.

Ensure that all accounts you’ve been paying for are updated. Check if your past offenses in the form of late payments, tax liens or bankruptcy are serving their time accordingly. These offenses couldn’t be erased instantly because they show in the records for specific period of time usually from 7 to 10 years depending on the offense.

Check for any other inaccuracies, false or dated information. Be very specific on details because those details spell a good or bad credit score for you. Organize the errors you’ve discovered by encircling them and get ready for the next step in making a self credit repair.

Report the errors asap.

Credit bureaus do not investigate the information being sent to them by creditors unless they are obliged or challenged to do so by a consumer. If you do a self credit repair you can report any error or inaccuracy in the record, be sure that you send them the duplicate copy of your credit report with the noted errors and other documents that may help you validate your claim. Make sure that there is a return receipt so you can document the claim properly.

Credit bureaus will then inform the creditors and lenders about your claim and an investigation that takes about 30 days will be in full swing.

If they find that there is indeed an error, your credit record will be adjusted. You can ask the creditors to send copies of the amended credit record to other companies that may have inquired about your record for the past two years.